Tyler_Durden
Member
- Joined
- Dec 3, 2011
- Messages
- 2,983
Keep in mind that telecommunications fraud is very broad:
TYPES OF TELECOMMUNICATIONS FRAUD
A) IDENTITY THEFT- The misuse of information that is specific to an individual in order to convince others that the imposter is the individual, effectively passing one self off as someone else.
B) INTERNET FRAUD - Any type of fraud scheme that uses one or more components of the internet - such as chat rooms, email, message boards, or web sites to present fraudulent solicitations to prospective victims, to conduct fraudulent transactions, or to transmit the proceeds of fraud to financial institutions or to others connected with the scheme.
C) TELEMARKETING FRAUD - Any scheme to defraud in which the persons carrying out the scheme use the telephone as their primary means of communicating with prospective victims and trying to persuade them to send money to the scheme.
D) AUCTION AND RETAIL SCHEMES - These schemes typically attract consumers by purporting to offer high-valve merchandise ranging from expensive jewelry to computers to sport memorabilia at attractive prices. After persuading victims to send money in the form of a personal check, money order, or cashier's check, schemers either send an inferior item or nothing at all.
E) NIGERIAN MONEY OFFER SCAMS - Potential victims receive, either through e-mail or fax, a request from a purported high ranking Nigerian government official (with the title of Doctor, Chief, or General) seeking permission to transfer a large sum of money out of Nigeria or some other African country into the victim's bank account.
F) ATM FRAUD - Use a special information storage device to secretly copy the magnetic strip on the back of credit and debit cards during normal transaction such as an ATM withdrawal or in-store purchase (this is called skimming)
G) INVESTMENT SCAMS- Market manipulation scams are the forefront of this type of scheme. Two methods are used, the first is commonly known as the pump - and dump, attempts to drive up the price of thinly traded stocks or stocks of shell companies by sending out e-mails that inflate the value of the company. When new purchases of the stock push its price to a high enough level, the scammers sell off the stock to realize a significant return which in turn drives down the stock price. The second method, referred to as short-selling or scalping, tries to decrease a stock value.
If the father were to testify before the Senate, my guess would be that he's referring to G).
